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Planning Board approves RFQ; chair suggests PIDF and TIF incentives to attract housing developers
Summary
The Planning Board approved an updated Request for Qualifications and discussed using Presque Isle Development Fund loans and Tax Increment Financing to help entice developers for new housing; staff will forward the RFQ to City Council and notify top developers, the minutes state.
The Presque Isle Planning Board on Jan. 16 approved revisions to a Request for Qualifications (RFQ) that include a new Objective section and directed staff to forward the RFQ to the City Council for its February meeting.
Deputy Director Tim St. Peter said the changes had been made and asked the board whether to move forward. Chairman Bruce Roope suggested asking Presque Isle Development Fund (PIDF) trustees to consider using PIDF money as low-interest loans in combination with Tax Increment Financing (TIF) to help pay for utilities, street development and other site work to entice housing developers. The board approved the RFQ by motion of Richard Engels, seconded by Tim Vernon; the minutes record the vote as unanimous.
St. Peter said he would send a letter to PIDF trustees about using some fund money to help developers and would obtain information on TIFs for review at the next meeting. City Manager Tyler Brown told the board the City maintains a list of the top 25 developers in the state and would distribute the RFQ to them and advertise it in the newspaper.
The minutes do not record specific dollar amounts proposed from PIDF or TIF, nor do they record a final decision by PIDF Trustees; those decisions and any agreement terms would be separate from the Planning Board's approval of the RFQ.
